📈 Are you on track with the Baby Steps? Get a Free Personalized Plan 📱 Watch the full episode for free in the Ramsey Network app. Ken Coleman and Jade Warshaw answer your questions and discuss: "Should I file for divorce to protect myself from my husband's dishonesty about his debt?" "I purchased a home with my in-laws seven years ago. How do we get out of this without hurting them?" "I'm being sued by two credit card companies. How do I get out of this mess?" "My teaching job is wearing me down. Should I stay for the benefits?" "I am supposed to go on a bachelorette trip with my friends but it's going to cost more than I expected" "Unexpected bills keep blowing up my budget. Should I sell my investment property?" Next Steps: ✅ Help us make the show better by taking this short survey! 📞 Have a question for the show? Call 888-825-5225 weekdays from 2–5 p.m. ET or send us an email. 💰 Hurry—Your chance to win $5k is almost over! Enter the Ramsey Cash Giveaway today! 💵 Sign up for a free training with our EveryDollar team! 🎟️ Dave Ramsey and John Delony are going on tour this month! Get tickets today Connect with our Sponsors: 🛒 Stop paying more and start shopping smarter at Aldi 🌱 Get 10% off your first month of BetterHelp 📱Go to Boost Mobile to switch today! 🏥 Learn more about Christian Healthcare Ministries 🏡 Get started today with Churchill Mortgage 🔒 Get 20% off when you join DeleteMe 🏦 Go to FAIRWINDS Credit Union for an exclusive account bundle! 🥗 Save 15% on your first Field of Greens order with code RAMSEY ⛨ Find top Health Insurance Plans at Health Trust Financial 💸 To find out more about student loan refinancing, check out Laurel Road 💻 Visit NetSuite today to learn more 🗂️ Use promo code RAMSEY for 18% off at The Nokbox 💵 Learn more about Timothy Plan 🏛 Get started with YRefy or call 844-2-RAMSEY 🔐 Visit Zander Insurance for your free instant quote today! Explore more from Ramsey Network: 💸 The Ramsey Show Highlights 🧠 The Dr. John Delony Show 🍸 Smart Money Happy Hour 💡 The Rachel Cruze Show 💰 George Kamel 🪑 Front Row Seat with Ken Coleman 📈 EntreLeadership Ramsey Solutions Privacy Policy Learn more about your ad choices. Visit megaphone.fm/adchoices
Chapter 1: How can I navigate divorce and financial dishonesty?
Kathy, how can we help today?
Hi, I find myself in a lot of debt because my husband has, we've been married 27 years. Sorry, I'm rambling already. We've been married 27 years and I've always allowed him to handle the finances. I quit my job, stayed home with our four children. and have just trusted him with the finances.
And in the last couple of years, I've just slowly been uncovering a lot of dishonesty and finally ended up filing for divorce after I found out most of it. I'm still not sure I know everything, but I think there is a close to a million dollars in debt right now. And I'm afraid that I'm going to be responsible for half of it. If in worst case scenario, hopefully I won't be on the, on the hook.
What kind of debt is this million?
Well, there's about, he hasn't paid income taxes in three years.
About 160. Okay.
Um, there's about 80,000 in credit card debt with cards. I didn't know existed. Um, there's a $550,000 mortgage on his office building that I'm, I was a personal guarantor on. And you didn't know about it? I signed it. It's my signature, but I don't remember doing that. Like I said, I feel like an idiot because I've trusted them.
Hold on a second. While we're on this list, I want to just cover what you've given Jade so far. How much of it are you on the hook for?
Well, I'm assuming all. I mean, our taxes are joint. The credit card, some say they're from his business, but others say, I just started opening the mail recently and I'm seeing this. The only card I was aware of is maxed out at $30,000 and the rest are other ones.
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Chapter 2: Should I sell a house co-owned with family?
All right, so between the house as an asset, Jade, and you making $130, this is not the end of the world. No. That's the one thing I wanted to hear.
You'll probably split the debt in some form or fashion. Okay. You'll probably split the assets in some form or fashion. Hopefully it's fair for both parties. And it sounds like there's going to be enough assets for you to clear your debt And still have a decent amount of money. My guess is something's going to happen with this house.
You're probably going to sell it and split the profits is usually what I suggest, especially if there's not kids living at home, that kind of thing. And then, yeah, whatever debt you're on the hook for, you'll take that money and pay off that debt. And you'll likely have enough money to go out and probably buy another house outright, depending on what you choose.
And you'll ride off into the sunset. And like you said, you will have learned many, many lessons out of this.
What's the big one? What's the practical takeaway? Let's fast forward. Let's be positive, Kathy. Now, this is going to be too soon on some of this I'm about to say, but I'm leading my partner here somewhere. So let's assume we're all clear of all this mess. She meets another fabulous man and she's in a relationship. She's in a married relationship.
What does she learn from this practically and tactically? What does she do different next time?
The different move is everything is 100. Like we're keeping everything above board. We're talking about it. And anything that you have questions about, you're saying out loud. You have something to bring to the table. He has something to bring to the table. No one gets to just, quote, handle it. You know what I mean? Yeah.
No excuse, Kathy, to not know anything or very little. So now you know. And get your head up. This is not fun. You're getting ready to go through a really tough deal, and you're in the middle of a storm right now, but you're going to be okay financially, and you're going to be okay emotionally, and you'll be okay long term. So appreciate the call.
Okay. Thank you so much.
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Chapter 3: What to do if you're being sued for credit card debt?
And hopefully it goes swimmingly and you guys can set a timeline and say, OK, here's a timeline, six months, da, da, da, da, da, and keep going from there. If for some reason that's not the case, then this is where and I pray it doesn't go to this point. But this when you might have to get a lawyer involved and say, OK, I did this thing with my family. I want to sell. They're not selling.
Can I get a judge to force this sale? That sort of thing. And that, my friend, is where I hope this does not go.
Have you floated this idea to them?
Yeah, we have. We sat down with them a few weeks ago, and we discussed exactly what we wanted. And they were super indecisive because that's what we're really stuck on because they just didn't know what they wanted to do. And we're like, well, let us know. And then they said, oh, well, we'll think about it. And it's been kind of like that situation. And they've been very great to us.
I don't want to seem like they haven't been. No, I get it.
So the good news is they weren't mad about it. They just kind of kicked the can down the road.
I think the problem was you put the ball in their court instead of saying, here's what we're going to do and here's what we need from you.
And they may need some direction, Jade. Yeah. In other words, when you tell those guys, and you already told them what you wanted to happen. So presumably when you sat them down and told them what you were going or wanted to do, you played out the numbers. They mean if you have it, you probably need to do that.
That's also true.
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Chapter 4: Is it worth switching jobs for better work-life balance?
That's a good reference.
I didn't want to interrupt you. No, that's good. Because I was like, if I throw, if I'm in the middle of you giving advice, I start going, Terry, back away, Terry, good lord. You would look at me like I had horns going out my head.
I'm glad you set it up because I kind of forgot about that, but that is an excellent reference.
And I want to say for our audience who's going, what is Ken talking about? Is it really that funny? It is absolutely. Just type in Terry Fireworks on YouTube and sit back and enjoy yourself because it brings me so much joy every year. I find seven new people to text that to, James, every July 4th.
I had never seen it until James showed it to me. Oh, this is perfect.
Yeah. This is perfect, James.
I had no idea that you introduced Jade to that great, glorious. It would have been a great metaphor, even if this caller's name wasn't Terry, but it was just perfect.
It works both ways. What's the lesson? We want to back away from the mess, get our hands in there every dollar, which, by the way, he did. He did.
He's doing the right thing.
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Chapter 5: What are the benefits of term life insurance?
No, because you said you have 16 years before you'd be able to get it. Correct. 14, yeah. 14, sorry. I want you to imagine really quick, 14 more years of what you've been experiencing that drove you to tears at the start of this call. Is that worth it? Yeah. Is that worth it?
No.
No, because you can go make more money doing what I'm telling you to do. And you're going to invest that money the way we've taught you to invest that money. Jade, final word on that. I think she needs a little pep talk here.
My final word is I want you to do a vocab rehab. I hear a lot of you saying things where it was just this and I just did this. I want you to start talking about what you do as a profession with a lot of power and a lot of authority. You're You're a person who's good at their job. They're great at what they do. And I want you to sound like it and stop kind of selling yourself short.
Like you've got a lot to offer and anybody would be great to have you.
That's a good word. Go Ruth, go.
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Chapter 6: How can I win $5,000 in the Ramsey Cash Giveaway?
But she said she couldn't, so let's clarify. Serena, did you go to the hotel? You know for sure.
Yeah, I did not.
That's what I'm saying. Here's the deal. I'm always thinking about the big picture. This isn't just a money play. She wants to be a part of this weekend. Special lady in her life. Long time friend. I say go and you budget the $400. You got $400? You can only spend $400.
You can have $400 worth of fun or bachelorette activities.
Am I right? Yes. Yeah, that's reasonable. And you have two options. You tell her, hey, listen, I'm getting out of debt. No, you can't tell her that. Sure she can. She can speak straight up and go, look, I've got $400 to spend. I'm going to come to this outing, and I'm going to come to this outing. I can't do the rest. I said she has options. She doesn't have to do that.
I'm not suggesting she does that, but I don't know their relationship. Or, you know what?
She didn't get in the wedding.
We've all, I'm going to be real straight up right now. We've all been to a thing where we didn't want to do all the things.
Yeah.
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